Aldridge Strengthens Board with the Appointment of Two New Directors

TORONTO--(BUSINESS WIRE)--
Aldridge Minerals Inc. (TSX-V: AGM) (“Aldridge” or the “Company”) today
announced the appointment of Jeremy South and Gage Jull as independent
directors to the Company’s board of directors (the “Board”).

“On behalf of the Board and senior management, I would like to welcome
Jeremy and Gage to the Aldridge team,” said Han Ilhan, President & CEO.
“Jeremy and Gage bring a wealth of mining and capital markets experience
to Aldridge and we look forward to benefiting from their extensive
industry knowledge as we advance the development of the Yenipazar
Project.”

Mr. South is currently Managing Partner of a Canadian-based private
equity group. He has over 30 years of experience in M&A, capital markets
and private equity in Europe, North America and Australia, including
senior positions in investment banking at Deutsche Bank, NatWest Markets
and Deloitte. For 10 years ended December 2016, Mr. South was Global
Leader, Mining M&A Advisory at Deloitte. He was also the Asia Pacific
Leader M&A, Energy & Resources. Based in Beijing for four years, he has
advised leading Asian trading houses and financial investors on mining
M&A, financing and strategy, and he counted some of Asia’s largest
companies as clients. Mr. South is a Chartered Accountant and he holds a
Bachelor of Economics from Monash University (Aust).

Mr. Jull is a co-founder and Principal of Bordeaux Capital. He has over
two decades of experience in corporate finance covering the oil and gas,
fertilizer and agriculture, mining, technology and industrial sectors.
Mr. Jull has acted as lead underwriter on numerous cross border equity
and debt offerings involving assets around the world with capital
sourced in Canada, the U.S. and the U.K. His experience in finding
demand and leading financing transactions in several jurisdictions has
been a key element in completing significant financings for his clients
in Canada, the UK and the U.S. He has completed over 200 such financings
and M&A transactions in the course of his career. Mr. Gage holds a B.Sc.
degree from the University of Toronto, an MBA from the University of
Western Ontario, and holds both P.Eng. and CFA designations.

Stock Option Grant

The Company has granted 200,000 stock options to each of Mr. South and
Mr. Jull. The options are exercisable at a price of C$0.13 per common
share and expire in 5 years. One quarter vest immediately upon grant and
one quarter vest on each of the first, second, and third anniversaries.
This grant of options is subject to acceptance by the TSX Venture
Exchange.

About Aldridge

Aldridge is a development-stage mining company focused on its wholly
owned and permitted Yenipazar polymetallic VMS Project (Gold, Silver,
Copper, Lead, Zinc) in Turkey. Aldridge completed the Yenipazar
Optimization Study and filed the related NI 43-101 compliant technical
report in May 2014, which updated the original May 2013 Feasibility
Study. The Optimization Study demonstrated that the Yenipazar Project is
highly robust with an after-tax NPV of US$330 million at a 7% discount
rate and an after-tax IRR of approximately 32%. The Company is currently
advancing the Yenipazar Project on key aspects including land
acquisition and financing.

This news release includes certain forward-looking statements within the
meaning of Canadian securities laws. Forward-looking statements involve
risks, uncertainties and other factors that could cause actual results,
performance, prospects and opportunities to differ materially from those
expressed in such forward-looking statements. When used in this press
release, words such as “proposed”, “may”, “would”, “could”, “will”,
“expect”, “anticipate”, “estimate”, “believe”, “intend”, “plan”, and
other similar expressions are intended to identify forward-looking
statements. Such risks, uncertainties and factors, include, but are not
limited to, the ability of the Company to raise additional debt or
equity financing on acceptable terms or at all; the risk that the
Company’s failure to raise additional capital will have a material
adverse effect on the Company’s liquidity, capital resources, results of
operations, assets, properties and prospects, the ability of the Company
to fund the purchase of the remaining land required to develop the
Yenipazar Project, its ability to complete the land acquisition in 2017,
and its ability to otherwise advance the development of the project; the
ability of the Company to pay its outstanding debts when due; economic
performance; mineral prices; the future plans and objectives of the
Company; and the other factors discussed under the heading “Risk
Factors” in the Company’s Management’s Discussion and Analysis for the
year ended December 31, 2016 and in other continuous disclosure filings
made by the Company with Canadian securities regulatory authorities and
available at www.sedar.com.
Any number of important factors could cause actual results to differ
materially from these forward-looking statements as well as future
results.

Forward-looking information is based on a number of factors and
assumptions which have been used to develop such information but which
may prove to be incorrect, including, but not limited to, assumptions in
connection with the continuance of Aldridge and its subsidiaries as a
going concern, general economic, political and market conditions,
mineral prices, and the accuracy of mineral resource estimates. Although
Aldridge believes that the assumptions and factors used in making the
forward-looking statements are reasonable, undue reliance should not be
placed on these statements, which only apply as of the date of this news
release, and no assurance can be given that such events will occur in
the disclosed time frames or at all. Aldridge disclaims any intention or
obligation to update or revise any forward-looking statement, whether as
a result of new information, future events or otherwise unless required
by law.

Neither the TSX Venture Exchange nor its Regulation Services Provider
(as that term is defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this news release.